Peninsula Land through its subsidiary -- Peninsula Holding and Investment (PHIPL) -- has entered into a Securities Purchase Agreement to acquire 71% equity shares of RR Mega City Builders on October 25, 2018, thereby making it a step-down subsidiary of the company.
The Company through its subsidiary already held 14% of the Equity Shares of RR Mega City Builders. The company’s main objective of the acquisition is to enhance interest in Real Estate Project Company.
Peninsula Land is a holding company engaged in construction business. The company is engaged in the business of real estate development. Its segments include Realty, Renting and Others.
